Small businesses in Singapore can now accept cashless payments with M1's new mobile Point of Sale (mPOS ) solution.
In collaboration with CIMB, MasterCard and Wirecard, the M1 mPOS solution allows merchants to accept credit, debit and prepaid payments from customers at any place with wireless Internet connection.
To accept card payments using the solution, merchants will first need to plug the provided physical card-reader into their phones and activate it via the M1 mPOS mobile app. After a customer selects the items he/she wants to purchase on the merchant's phone, the merchant could then insert the customer's payment card into the card reader. This will trigger the phone to display a signature pad for the customer to electronically sign for his/her purchase. Thereafter, an electronic receipt will be generated instantly, which can be printed or emailed to the customer.
Currently only available for Android devices, the M1 mPOS solution is tied to a M1 data-bundled mobile plan, and is chargeable at S$5.35 per month (inclusive of GST). There is no minimum monthly transaction commitment or deposit required, and merchants will enjoy attractive rates for transactions and daily payment settlement, said M1.
Interested merchant can apply for the solution at www.m1.com.sg/mPOS.
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